New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    If a company limited by shares wants to reduce its

    capital, it needs to submit the application for this to which of the following external agencies, as per the Companies Act, 2013?
    A SEBI Correct Answer Incorrect Answer
    B Tribunal Correct Answer Incorrect Answer
    C Central Government Correct Answer Incorrect Answer
    D Registrar of Companies Correct Answer Incorrect Answer

    Solution

    Section 66 – Reduction of share capital states that Subject to confirmation by the Tribunal on an application by the company, a company limited by shares or limited by guarantee and having a share capital may, by a special resolution, reduce the share capital.

    Practice Next